Raymond James & Associates Sells 511,426 Shares of Smith & Nephew plc (NYSE:SNN)

Raymond James & Associates cut its position in shares of Smith & Nephew plc (NYSE:SNN) by 87.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,461 shares of the medical equipment provider’s stock after selling 511,426 shares during the quarter. Raymond James & Associates’ holdings in Smith & Nephew were worth $1,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SNN. American Century Companies Inc. boosted its holdings in Smith & Nephew by 343.5% in the third quarter. American Century Companies Inc. now owns 2,364,037 shares of the medical equipment provider’s stock worth $58,557,000 after acquiring an additional 1,830,965 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Smith & Nephew by 691.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 803,232 shares of the medical equipment provider’s stock worth $25,623,000 after acquiring an additional 701,806 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Smith & Nephew by 519.9% in the first quarter. Envestnet Asset Management Inc. now owns 826,910 shares of the medical equipment provider’s stock worth $4,505,000 after acquiring an additional 693,516 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Smith & Nephew by 2,242.5% in the first quarter. JPMorgan Chase & Co. now owns 658,642 shares of the medical equipment provider’s stock worth $18,382,000 after acquiring an additional 630,525 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Smith & Nephew by 103.2% in the second quarter. BlackRock Inc. now owns 1,005,408 shares of the medical equipment provider’s stock worth $32,424,000 after acquiring an additional 510,617 shares in the last quarter. 25.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised Smith & Nephew from a “buy” rating to a “strong-buy” rating in a report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Smith & Nephew currently has an average rating of “Moderate Buy”.

Smith & Nephew Trading Up 0.5 %

SNN stock opened at $23.93 on Thursday. Smith & Nephew plc has a 1-year low of $21.52 and a 1-year high of $33.08. The business has a fifty day moving average price of $26.49 and a 200-day moving average price of $25.96. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 1.77.

Smith & Nephew Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, April 2nd will be paid a $0.462 dividend. This represents a dividend yield of 2.8%. The ex-dividend date is Monday, April 1st.

Smith & Nephew Profile

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.